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I need the solutions to this problem. Vernon, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April

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I need the solutions to this problem.
Vernon, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April May June and July April $65,000 May Budgeted cost of goods sold $75,000 June $85,000 July 591,800 Vernon had a beginning inventory balance of $4,300 on April 1 and a beginning balance in accounts payable of $15,300. The company desires to maintain an ending inventory balance equal to 15 percent of the next period's cost of goods sold. Vernon makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the month following purchase Required a. Prepare an inventory purchases budget for April, May, and June b. Determine the amount of ending inventory Vernon will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Vernon will report on the end-of-quarter pro forma balance sheet

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